Why does US Bancorp (UBS-A) preferred shares currently not pay dividends?

U.S. Bancorp, 7.189% Dep Shares Non-ul Perp Preferred Stock, Series A shares (USB-A) is not currently paying dividends but there isn't any indications that dividends have been suspended. After looking into the prospectus, it does appear that these shares are different from most other shares in that there appears to be some type of purchase agreement where the shares will be converted to a floating rate trust type shares between 4/15/2011-4/15/2012.